Best Reverse Mortgage Lenders in Arizona 2026: Top 6 Ranked
Patricia Davis
Arizona Reverse Mortgage Specialist | 18+ Years Experience
January 22, 2026
Looking for the best reverse mortgage lenders in Arizona? Arizona seniors (62+) can access $100K-$500K+ in home equity without monthly payments. We ranked the top 6 HECM lenders.
62+
Min Age Required
$1.15M
Max Home Value
$0
Monthly Payments
$285K
Avg Cash Available
🏆 Top 6 Reverse Mortgage Lenders Arizona 2026
American Advisors Group (AAG) - Best Arizona Reverse Mortgage
8,200+ AZ reverse mortgages
Why #1:
- 🏆 #1 reverse mortgage lender in America
- 💰 Competitive rates: 6.75%-7.25% APR
- ⚡ Close in 30-45 days
- 📍 Strong Arizona presence (Phoenix, Scottsdale, Tucson)
- 🎯 Free in-home consultations
Best For:
Arizona seniors 62+ wanting most cash + best service
📊 How Much Cash Can You Get? (Arizona 2026)
| Home Value | Age 62 | Age 70 | Age 80 |
|---|---|---|---|
| $300,000 | $135,000 | $165,000 | $195,000 |
| $500,000 | $225,000 | $275,000 | $325,000 |
| $700,000 | $315,000 | $385,000 | $455,000 |
| $1,000,000 | $450,000 | $550,000 | $650,000 |
💡 How It Works:
The older you are + the more your home is worth = the more cash you can access. Amounts shown assume no existing mortgage. Subtract current mortgage balance from these amounts.
✅ Arizona Reverse Mortgage Requirements 2026
Eligibility Requirements
Age:
62+ years old (all borrowers)
Home Ownership:
Own home outright OR have significant equity
Primary Residence:
Must live in home as primary residence
Property Type:
Single-family, 2-4 unit, condo, townhome
Financial Requirements
Credit:
No minimum score (but must show ability to pay taxes/insurance)
Income:
No income requirement
Counseling:
HUD-approved counseling required (free)
Obligations:
Must pay property taxes, insurance, HOA fees
💰 3 Ways to Receive Your Money
1. Lump Sum
Get all cash at closing
Best for: Paying off existing mortgage, large expenses, debt consolidation
2. Monthly Payments
Receive fixed monthly income
Best for: Supplementing retirement income, covering living expenses
3. Line of Credit
Draw funds as needed
Best for: Emergency fund, flexibility, unused portion grows over time
❓ FAQ: Arizona Reverse Mortgage 2026
Will I still own my home with a reverse mortgage?
YES! You retain full ownership of your Arizona home with a reverse mortgage.
You must:
- Live in the home as your primary residence
- Pay property taxes on time
- Maintain homeowners insurance
- Keep the home in good condition
As long as you meet these requirements, you can stay in your home for life.
When do I have to repay a reverse mortgage in Arizona?
Loan becomes due when:
- You permanently move out of the home
- You sell the home
- The last borrower passes away
- You fail to pay taxes/insurance
- The home falls into disrepair
Repayment options:
- Sell the home and keep any remaining equity
- Refinance into a traditional mortgage
- Pay off the loan with other assets
Note: You (or your heirs) will never owe more than the home's value, even if the loan balance exceeds it.
What are the costs of a reverse mortgage in Arizona?
Arizona Reverse Mortgage Costs (2026):
- Origination fee: $2,500-$6,000 (2% of first $200K + 1% above)
- FHA mortgage insurance: 2% upfront + 0.5% annual
- Appraisal: $500-$700
- Title insurance: $1,000-$2,000
- Counseling: $125-$200 (sometimes free)
- Total: $8,000-$15,000 (rolled into loan)
All costs can be financed into the loan - no out-of-pocket required.